Pakistan Oil Marketing: Oil sales up 41% MoM as transport picks-up; COVID impact still visible
- Pak oil sales for May-2020 are likely to increase by 41% MoM on resumption of inter-city transport post the relaxations in lockdowns amidst COVID-19 outbreak. That said, impact of COVID-19 still remains visible in volumes with decline of 12% YoY expected.
- High Speed Diesel (HSD) sales are expected to improve by 74% MoM (-3% YoY) on the back of demand coming from the transport sector and also from the agriculture sector due to wheat harvesting.
- Motor Spirit (MS) sales are also expected to increase by 14% MoM. Furnace Oil (FO) volumes are also anticipated to improve by 106% MoM given (1) low base of last month and (2) higher demand due to decline in prices.
- During 11MFY20, volumes are likely to drop by 15% YoY due to overall economic slowdown and increasing impact of COVID-19 outbreak.
- PSO sales are likely to increase the most by 58% MoM as HSD segment is poised to post 128% growth MoM.
- HASCOL volumes are likely to rise by 36% MoM. The improvement is expected at the behest of 50% MoM increase in FO volumes and 52% MoM expected rise in HSD volumes.
- APL and SHEL volumes are also expected to improve by 18% MoM and 3% MoM, respectively during the month.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
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